Swati Pandey

A 38-year-old man died in a shark attack off Western Australia on Saturday, the second fatal incident reported in the country this year.

The risk of inflation expectations in Australia drifting higher is “elevated,” a senior Reserve Bank official said, warning that if they were to become untethered a sharp economic slowdown may be needed to lower them.

Three of Asia’s most vulnerable economies are showing rising strains as their central banks come under pressure to tighten policy even as the economic hit from the Iran-war oil shock deepens.

India may take a number of steps in coming months to bolster foreign reserves and the rupee, including possibly restricting outflows from businesses, according to Citigroup Inc.

India may introduce more measures in the coming months to support the rupee and boost foreign reserves, including possible curbs on overseas investments by domestic companies, according to Citigroup. The report said rising oil prices and pressure on the current account deficit have pushed policymakers to consider steps to limit capital outflows and encourage foreign inflows.

In Sydney’s wealthy northern suburb of Putney on Saturday afternoon, a handful of home hunters shuffled quietly around a three-bedroom villa that was up for auction.

Australia’s unemployment rate unexpectedly climbed in April, suggesting the labor market is beginning to cool in response to rising interest rates and an energy shockwave from the Middle East conflict.

Australia’s core inflation remained above the top of the Reserve Bank’s target in April, reinforcing expectations policymakers will maintain a hawkish tone following rapid fire interest-rate hikes this year.

Asia’s central banks face mounting pressure to tighten monetary policy as the region finds itself caught between an energy crunch and an AI boom, a combination that threatens to keep inflation elevated.

Australia’s economic growth decelerated last quarter as government spending weakened, suggesting momentum was easing even before the full impact of the Reserve Bank’s interest-rate increases hit.